EJF Capital LLC trimmed its position in Simon Property Group Inc (NYSE:SPG) by 37.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 5,000 shares of the real estate investment trust’s stock after selling 3,000 shares during the quarter. EJF Capital LLC’s holdings in Simon Property Group were worth $851,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of SPG. Global X Management Co. LLC boosted its stake in Simon Property Group by 35.7% during the 1st quarter. Global X Management Co. LLC now owns 2,469 shares of the real estate investment trust’s stock valued at $381,000 after purchasing an additional 649 shares during the last quarter. FDx Advisors Inc. boosted its stake in Simon Property Group by 13.2% during the 1st quarter. FDx Advisors Inc. now owns 4,761 shares of the real estate investment trust’s stock valued at $735,000 after purchasing an additional 555 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Simon Property Group by 70.4% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 11,773 shares of the real estate investment trust’s stock valued at $1,817,000 after purchasing an additional 4,862 shares during the last quarter. Mackay Shields LLC acquired a new position in Simon Property Group during the 1st quarter valued at about $13,722,000. Finally, Opus Capital Group LLC acquired a new position in Simon Property Group during the 1st quarter valued at about $294,000. 93.93% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE SPG opened at $181.83 on Wednesday. Simon Property Group Inc has a twelve month low of $145.78 and a twelve month high of $183.89. The company has a market capitalization of $58.63 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 2.51 and a beta of 0.52. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 6.13.
Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, July 30th. The real estate investment trust reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.13. Simon Property Group had a return on equity of 55.59% and a net margin of 40.11%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the business earned $1.23 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. analysts forecast that Simon Property Group Inc will post 12.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend was Thursday, August 16th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.94. Simon Property Group’s payout ratio is presently 71.36%.
A number of equities analysts have issued reports on the company. Royal Bank of Canada lifted their price target on Simon Property Group to $183.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 21st. Mizuho reiterated a “buy” rating and set a $188.00 price target on shares of Simon Property Group in a research note on Wednesday, August 1st. Wells Fargo & Co lifted their price target on Simon Property Group from $175.00 to $183.00 and gave the company an “outperform” rating in a research note on Tuesday, July 31st. Citigroup lifted their price target on Simon Property Group from $187.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Finally, Barclays lifted their price target on Simon Property Group from $184.00 to $192.00 and gave the company an “overweight” rating in a research note on Tuesday, July 17th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $188.23.
In related news, insider John Rulli sold 1,330 shares of Simon Property Group stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $177.05, for a total value of $235,476.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Steven K. Broadwater sold 859 shares of Simon Property Group stock in a transaction that occurred on Friday, June 29th. The stock was sold at an average price of $170.28, for a total transaction of $146,270.52. Following the completion of the sale, the chief accounting officer now directly owns 1,734 shares in the company, valued at approximately $295,265.52. The disclosure for this sale can be found here. 8.64% of the stock is owned by insiders.
About Simon Property Group
Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
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